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Trading Made Simple

  • #21,641
  • Jul 11, 2013 10:19am Jul 11, 2013 10:19am
Quoting emmanuel7788
EJ m5 PAC Scalping: {image}
Are you trying to adapt the PAC in your trading now emmanuel? Do you have any suggestion about PAC for the beginner here? I actually have watched a lot of video about the E.A.S.Y method and about PAC,Dean recommend to use it on H4,H1 or sometimes 15M chart for aggressive entry. He uses the PAC to identify market condition on higher TF in order to decide stay out or jump in the market on lower TF. But somehow I couldn't get a grip of it so I decided to remove it. And now with a lot of references in this thread,I just want to ask you about that.

And about that inside bar on H4,actually my H4 bar is not a inside bar instead it just has a LH and LL . These brokers timezone is really messed us up.
  • #21,642
  • Jul 11, 2013 10:29am Jul 11, 2013 10:29am
Quoting emmanuel7788
{quote} the previous H4 candle...

Hi Emmanuel,
Just back...Missed lots of actions....I was just wondering for Inside bar do you consider only the candle body or you include the shadows too?
Here the body is bigger than previous one(Top side)
Failure, is a wonderful teacher!
  • #21,643
  • Jul 11, 2013 10:31am Jul 11, 2013 10:31am
Quoting emmanuel7788
{quote} market just gave you a H1 fib 38/50 late entry... if you use MACD(12,26,9) with TDi ... that will confuse you and you will miss many good entries. if you need another indicator below TDI, use the Stoch (8,3,3).

You have a really sharp eye man.Now I see how you find all these set ups ...
Failure, is a wonderful teacher!
  • #21,644
  • Jul 11, 2013 10:34am Jul 11, 2013 10:34am
Quoting emmanuel7788
{quote} market just gave you a H1 fib 38/50 late entry... if you use MACD(12,26,9) with TDi ... that will confuse you and you will miss many good entries. if you need another indicator below TDI, use the Stoch (8,3,3).
I think yo mean this.Right? My chart is M15 though
Attached Image (click to enlarge)
Click to Enlarge Name: test.png Size: 53 KB
Failure, is a wonderful teacher!
  • #21,645
  • Jul 11, 2013 10:45am Jul 11, 2013 10:45am
EJ Trade closed.
Just closed this trade before London session close in 15 mins.

This trade is an example who we can use M5 scalping and following the higher TF price action and in this case the H1 and H4 TFs for higher probability trades.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 11 Jul Trade closed 11-7-2013 11-27-51 PM.png Size: 60 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,646
  • Jul 11, 2013 10:47am Jul 11, 2013 10:47am
Quoting emmanuel7788
EJ Trade closed. Just closed this trade before London session close in 15 mins. This trade is an example who we can use M5 scalping and following the higher TF price action and in this case the H1 and H4 TFs for higher probability trades. {image}

You even didn't wasted 1 pip
Failure, is a wonderful teacher!
  • #21,647
  • Jul 11, 2013 10:56am Jul 11, 2013 10:56am
Quoting frenetic
{quote} Are you trying to adapt the PAC in your trading now emmanuel? Do you have any suggestion about PAC for the beginner here? I actually have watched a lot of video about the E.A.S.Y method and about PAC,Dean recommend to use it on H4,H1 or sometimes 15M chart for aggressive entry. He uses the PAC to identify market condition on higher TF in order to decide stay out or jump in the market on lower TF. But somehow I couldn't get a grip of it so I decided to remove it. And now with a lot of references in this thread,I just want to ask you about...
Hi frenetic,
there are several channel trading strategies out there and they all work well when traders know how to trade them.
The PAC using 5SMMA is also proven but yet many traders do not know how to use it and adapt that into their personal style of trading. Using PAC for entry is conservative when we compare that to the 5EMA Close, shift +3 method.

What I can do is to post trade examples and explain the use of the PAC and how I use that to help me in my trading. I know many traders still have difficulty to identify Price Action on their charts. The PAC will help them.

The H4 chart differences for different brokers is a never ending discussions among many traders. I stick to GMT+0 and trust me, I see more H4 Inside Bars using the GMT+0 chart data than the GMT+1 and GMT+3 chart data.
But when I see a H4 IB, the GMT+3 data will show a Engulfing Bar pattern which is also another of my favourite bar/candlestick pattern to trade.

regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,648
  • Jul 11, 2013 10:58am Jul 11, 2013 10:58am
Quoting mike1349
{quote} Hi Emmanuel, Just back...Missed lots of actions....I was just wondering for Inside bar do you consider only the candle body or you include the shadows too? Here the body is bigger than previous one(Top side)

Inside Bar - always use the High and Low of the price bars/candles... not the body of the candles.


... you have not been reading the Steve Nison stuff I posted.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,649
  • Jul 11, 2013 10:59am Jul 11, 2013 10:59am
hi Hins,
how are you????
I'm starting use TDI real time in h1 charts.
I use 5 eMA, +3, typical price.
Is the correct setting for h1 charts or not?

good trading!!
francesco
  • #21,650
  • Jul 11, 2013 11:01am Jul 11, 2013 11:01am
Quoting mike1349
{quote} You have a really sharp eye man.Now I see how you find all these set ups ...

No, I actually have poor eye sight due to the ten-thousand of hours screen time. But I developed a 'third eye' for seeing my charts. ... just like X-man S3 OP.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,651
  • Jul 11, 2013 11:05am Jul 11, 2013 11:05am
Quoting emmanuel7788
{quote} Inside Bar - always use the High and Low of the price bars/candles... not the body of the candles. ... you have not been reading the Steve Nison stuff I posted.

I had read that book long time ago but IB and EB distinguish is another discution between traders.Some only go with the body(open-close) and some other rather the whole candle(High-Low) .
That's why I asked you which one you go with.Now I know it!

I am gonna re-read that book anyways.
Failure, is a wonderful teacher!
  • #21,652
  • Jul 11, 2013 11:09am Jul 11, 2013 11:09am
Quoting mike1349
{quote} I think yo mean this.Right? My chart is M15 though {image}
I mean the fib retracement of that H1 bearish candle ... it is 4 xM15 candle on your chart.
Attached Image (click to enlarge)
Click to Enlarge Name: mike1349 12-7-2013 12-02-56 AM.png Size: 62 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,653
  • Jul 11, 2013 11:12am Jul 11, 2013 11:12am
Quoting mike1349
{quote} I had read that book long time ago but IB and EB distinguish is another discution between traders.Some only go with the body(open-close) and some other rather the whole candle(High-Low) . That's why I asked you which one you go with.Now I know it! I am gonna re-read that book anyways.
you need to understand the differnce between engulfing candles which compare the price body but IB only uses the high -low.
when you do not differentiate the two types, then you will never get trading them right.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,654
  • Jul 11, 2013 11:15am Jul 11, 2013 11:15am
I got you!Right?
Attached Image (click to enlarge)
Click to Enlarge Name: test.png Size: 52 KB
Failure, is a wonderful teacher!
  • #21,655
  • Jul 11, 2013 11:17am Jul 11, 2013 11:17am
Quoting mike1349
{quote} You even didn't wasted 1 pip
actually I was greedy and set my final TP at 5R.
but when ADR got hit, and the with London closing.. I decided to clsoe at 3R. .. anyway risk 2% and win 4% overall in one trade is good.
but the H4 Ib breakout still there is i want to swing trade this one.
now you see a realtime example how to M5 scalp into a 4H trade.

use multi timeframe analysis approach and the H1 and H4 PAC tell you something.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,656
  • Jul 11, 2013 11:20am Jul 11, 2013 11:20am
Quoting emmanuel7788
{quote} What I can do is to post trade examples and explain the use of the PAC and how I use that to help me in my trading. EMMANUEL
That would be much appreciated Emmanuel
Failure, is a wonderful teacher!
  • #21,657
  • Jul 11, 2013 11:22am Jul 11, 2013 11:22am
Quoting mike1349
I got you!Right? {image}
don't fall for the APB trap ...... look at the real price bar hidden by the APB body.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,658
  • Jul 11, 2013 11:23am Jul 11, 2013 11:23am
Quoting mike1349
{quote} That would be much appreciated Emmanuel

but today you seen EJ example how I see the H1 and H4 PAC and market was sideway for hours... then this breakout..
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #21,659
  • Edited 11:54am Jul 11, 2013 11:27am | Edited 11:54am
Quoting emmanuel7788
{quote} Hi frenetic, there are several channel trading strategies out there and they all work well when traders know how to trade them. The PAC using 5SMMA is also proven but yet many traders do not know how to use it and adapt that into their personal style of trading. Using PAC for entry is conservative when we compare that to the 5EMA Close, shift +3 method. What I can do is to post trade examples and explain the use of the PAC and how I use that to help me in my trading. I know many traders still have difficulty to identify Price Action on their...
Always a caring and enthusiasm person about helping others,I wish that I could vouch so I can give you like 100 vouch maybe . Anyway,thank you again for your explanation. Maybe different H4 candle is some thing we have to deal it. One more little question,do you use the PAC only for scalping or for swing trade too?
Looking forward to your analysis for H4 trading setup in the future .
  • #21,660
  • Jul 11, 2013 11:32am Jul 11, 2013 11:32am
Quoting emmanuel7788
{quote} but today you seen EJ example how I see the H1 and H4 PAC and market was sideway for hours... then this breakout..

Thanks Emmanuel...I gotta go to do some house jobs after that storm.My wife took the baby today and she told me if all the jobs are not done by the time she is back ,she will break my computer.

Since I am a very brave man I am going to finish all the jobs before she come back!!
Failure, is a wonderful teacher!
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